Skip to main content

Michael Lewis Has Something To Say About High-Frequency Trading

  • Author:
  • Updated:

The Big Short author—lionizer of zero-time World Series champion Billy Beane, demonizer of the Elect, CDO fetishist and yoga enthusiastjoins the ranks of the HFT haters, which hate he can explain in 288 short pages. Or 15 minutes for those lacking that kind of patience.

Mr. Lewis, whose new book, “Flash Boys,” is scheduled to be released on Monday, appeared on “60 Minutes” on Sunday evening to argue that high-speed trading has ripped off investors not in possession of lightning-fast computers and special cables.

“The United States stock market, the most iconic market in global capitalism, is rigged,” Mr. Lewis told Steve Kroft on the CBS News program.

“If it wasn’t complicated, it wouldn’t be allowed to happen,” he went on. “The complexity disguises what is happening. If it’s so complicated you can’t understand it, then you can’t question it.”

Michael Lewis Views Market as ‘Rigged’ in Favor of High-Speed Traders [DealBook]